The good prospects are based on the all-embracing ... - ALNO AG

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10 to ouR shaREhoLdERs | LEttER FRom thE ChiEF ExECutivE oFFiCER " A <strong>good</strong> investor invests in and for the people who make up the company, not against them." A number of challenges indisputably remain. <strong>The</strong> new financial year has started out very pleasingly. Where the most important ratios <strong>are</strong> concerned, we were able to boost sales by 8.9% to EUR 118.5 million in the first quarter. EBITDA rose to EUR +2.1 million and the operating result (EBIT) improved to EUR -1.9 million, which once again proves that we <strong>are</strong> on the right track to making 2012 the year in which the trend was reversed. This growth is primarily the result of higher export activity and further optimizing the positioning of our four Group brands ALNO, WELLMANN, IMPULS and PINO. <strong>The</strong> greatest increase in sales within the ALNO Group has been achieved by the ALNO brand, with a rise of 23.5% over the same period in the previous year. ALNO's pleasing operating trend has also continued in the second quarter of 2012. With business in our core market Germany developing very well, the situation as regards orders from abroad is also favourable. <strong>The</strong> signs have consequently been set for ALNO's future: EBITDA is expected to be positive for 2012 as a whole. We will continue to improve our profitability in the future, too and consequently expect a further improvement in EBITDA in 2013. <strong>The</strong>se <strong>good</strong> <strong>prospects</strong> <strong>are</strong> <strong>based</strong> on the all-embracing, award-winning product portfolio of the ALNO Group and our highly motivated workforce. <strong>The</strong> continual and successful development of products meeting customers' needs will also strengthen our position as innovation leader. <strong>The</strong> quality and innovativeness of our kitchens <strong>are</strong> famous throughout the industry worldwide. So that we can make our company less dependent on individual regional markets in a highly volatile market environment, we will continue to expand our export business in particular. <strong>The</strong>se efforts, too, <strong>are</strong> beginning to bear fruit. A subsidiary was founded in the United States at the end of March 2012, followed by the inauguration of an ALNO studio in New York in May. However, a company's positive financial and economic development always goes hand-in-hand with a sustainable corporate culture. For this reason, first steps were taken in 2011 to give ALNO AG a new corporate mission statement. Fair integration of our employees in their working environment is a fundamental element of this new mission statement. Work and performance <strong>are</strong> interpreted as comprehensively human as well as intelligent terms. I am firmly convinced that, in a free and humane
to ouR shaREhoLdERs | LEttER FRom thE ChiEF ExECutivE oFFiCER economic system, companies <strong>are</strong> not only responsible for producing <strong>good</strong>s, but also for organizing the work. What's more, it must be organized, firstly, so that as many people as possible can sh<strong>are</strong> in the work process and, secondly, so that the values and standards determining everyday working life also correspond with those on which society is <strong>based</strong>. <strong>The</strong> entrepreneurial and economic success sought by ALNO means more than simply making invest- ment worthwhile: it also means preserving and strengthening this company as a working "home" for our employees. ALNO AG's success in the long term depends entirely on its motivated and highly qualified employees. A <strong>good</strong> investor invests in and for the people who make up the company, not against them. For us, it is therefore important to intensify the dialogue between the management and our staff and to re-establish a close bond which, unfortunately, was sorely neglected in the past years. Our aims for the future <strong>are</strong> twofold: on the one hand, economic profitability and on the other, to be an employer for whom the social community is important so that every single employee can play their part in contributing to the success of our economic undertaking. Our thanks <strong>are</strong> therefore due, above all, to our employees who have not only contributed, with their commitment and perseverance, to the successful implementation of our Group's reorganization efforts, but without whom that reorganization would never have been possible. <strong>The</strong>y have ensured that our partners in the retail trade and our end-customers continue to place their confidence in the ALNO Group's products and continue to appreciate our quality, our reliability and our closeness to the customer. May we also express a warm thank you to the members of the works council, our sh<strong>are</strong>holders and customers for their confidence in 2011. We look forward to making 2012 a successful financial year in which we will make every possible effort to restore ALNO to its former strength, together with you. Best regards, Max Müller Chief Executive Officer of ALNO AG 11
Page 1 and 2: 2011 annual report
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ALNO Aktiengesellschaft 88630 Pfull
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The good prospects are based on the all-embracing ... - ALNO AG

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